ARTICLES ABOUT KINGFISHER AIRLINES BY DATE - PAGE 3

NEW DELHI: A Delhi court has directed the grounded Kingfisher Airlines to pay the outstanding salary of three months amounting to Rs 12.91 lakh to one of its ex-pilots who had moved court over non-payment of dues. Additional District Judge Rakesh Kumar disposed of the case in favour of Captain Sanjay Sudan and declined the plea of the airline to be heard in the matter, saying having a counter-claim against the plaintiff (pilot) is "not a ground for grant of leave to defend".

MUMBAI: In a setback to the consortium of banks led by State Bank of India seeking to recover dues from defunct Kingfisher Airlines ( KFA ), the Bengaluru Debt Recovery Tribunal (DRT) has accepted the service tax department's application to be a party to the matter. This means the revenue department will have the right to collect its dues along with banks and other financial institutions. "This is a landmark ruling as for the first time a third party that's not a bank or a financial institution is allowed to contest in proceedings against banks," said a senior tax official aware of the development on Friday.

MUMBAI: The employees of SpiceJet, who find themselves facing an uncertain future, are shocked at the speed with which its prospects have taken a turn for the worse. They're hoping that the speculation about a rescue bid will come true. Meanwhile, there is a surprising amount of goodwill among staff for the management, which has tried to keep employees in the loop about what's been happening. Many pilots though have already left and the remaining ones are fed up with the uncertainty.

MUMBAI: The man who's said to have coined the catchy fiveword slogan that launched Narendra Modi's general election campaign is now playing a key role in rescuing SpiceJet from financial turbulence, having been one of its founders almost a decade ago. Ajay Singh is credited with coming up with "Ab ki baar Modi sarkaar", which became the catchphrase of the BJP that Modi led to a resounding victory a few months ago. Singh's appearance at the...

NEW DELHI: SpiceJet's financial problems may have raised some concerns over the future of India's aviation industry, but top executives from global airlines say the troubles at the low-cost carrier aren't anything new in the sector and won't hurt the image of the Indian market. Chief executives of Turkish Airlines, Austrian, Singapore Airlines and Star Alliance say the Indian market has big potential and failing of one or two airlines won't impact that potential. They, however, say the government needs to look into issues such as high airport fees and jet fuel tax to create an enabling environment for the aviation industry.

NEW DELHI: The Delhi High Court today reserved its judgement on a plea that Kingfisher Airlines lawyers cannot appear before lending bank PNB in the process to declare the ailing carrier and its guarantors, Vijay Mallya and UBHL , as wilful defaulters. A bench of Chief Justice G Rohini and Justice R S Endlaw reserved the verdict after both sides completed their arguments. "Arguments heard. Judgement reserved," the bench said. Punjab National Bank (PNB)

In a chat with ET Now, VG Kannan , MD, SBI , shares his outlook for the RBI credit policy. Excerpts: ET Now: Would you agree with that assessment because the only question is how low is low and how long is long enough? When does one ever feel confident in a world where I told you change is perhaps the only constant? VG Kannan: Even if he actually reduces interest rates, I do not actually visualise a huge credit pick up. It might lead to a scenario of the bond market actually going up and to some extent the bankers being benefited, but overall, I do not see too much of a pass-through affect because most of the banks have already cut the deposit rates.

MUMBAI: In an irony of sorts, self-proclaimed 'King of Good Times' Vijay Mallya today saw shares of his various group companies soar higher even as fresh troubles surfaced in form of the group's holding entity being slapped with yet another 'wilful defaulter' tag. This came a day after Mallya having to quit top posts at two group companies -- Mangalore Chemicals & Fertilisers Ltd (MCFL) and long-grounded Kingfisher Airlines. While most analysts have long stopped covering UB stocks due to continuing troubles at various group companies and lack of liquidity , they were also taken by surprise to see a sudden spike of up to 20 per cent in their share prices today.

NEW DELHI: In fresh trouble for liquor baron Vijay Mallya, United Bank of India has identified United Breweries Holdings, the guarantor of grounded airline Kingfisher, as wilful defaulter. The bank has already declared Kingfisher Airlines and its four directors, including Mallya, as wilful defaulters. "We have identified United Breweries (UB) Holdings as wilful defaulter because company had the resources to repay the loan as guarantor of Kingfisher Airlines," United Bank of India (UBI)

MUMBAI: In another development, Kingfisher Airlines said in an exchange filing on Monday that the corporate affairs ministry has rejected its application to appoint Vijay Mallya as managing director with effect from October 16, 2013. The cash-strapped Kingfisher Airlines suspended operations in October 2012 after its employees struck work over months of unpaid salaries. The Directorate General of Civil Aviation (DGCA) subsequently suspended its flying licence after the airline failed to produce a business plan to restart operations.